- (a) Notwithstanding any law to the contrary, title to any proceeds transferred to and held in the trust as previously established under this chapter, including any money and investments held in the trust and under any trust agreement entered into by the authority and the treasurer of state under section 5 of this chapter as previously in effect before July 1, 2017, shall be transferred to the next level Indiana trust fund established under IC 8-14-15.1 .
- (b) Upon completion of the transfer to the next level Indiana trust fund established under IC 8-14-15.1 as required by this section, the trust shall cease and be of no further force or effect as a charitable trust or otherwise.
- (c) All provisions of this chapter that are inconsistent with this section are void and of no further force or effect.
- (d) The officers, directors, and employees of the authority and the treasurer of state (whether arising from the capacities of such positions or from having entered in any trust agreement under this chapter as previously in effect before July 1, 2017) are immune from civil liability in connection with any transfer to the next level Indiana trust fund under this section.
As added by P.L.47-2006, SEC.6. Amended by P.L.217-2017, SEC.68.